The resulting recommendations were published earlier this month in a report called Decarbonizing Heavy Industry: The Low-Carbon Transition of Canada’s Emission-Intensive and Trade-Exposed Industries.

“We have among the highest and richest reserves of natural gas and natural gas liquids that allow for chemical production from methane, ethane and propane, which have the lowest greenhouse gas potential of all the remaining chemical feedstocks,” Mr. Masterson told the Committee.

However, he raised concerns that the uncertainty over carbon pricing after 2020 created a poor environment to attract investment.

“When we can’t tell people what the regulatory and pricing environment looks like after three years from today, in 2020, they’re going to be very hesitant to put their money into Canada,” he said.